S&P Global Ratings News

The rating agency also retained India's growth forecast for FY 2025-26 at 6.9 per cent. Meanwhile, S&P further reduced China's GDP growth to 4.3 per cent in the calendar year 2025.

IPO activity in India is set to remain strong this year after the number of listings rose more than 65% in 2023. 

The rating agency cited weakness in profitability of JLR as the main reason for downgrading credit rating of Tata Motors and its British arm.

S&P Global Ratings, in a report, said most emerging market issuers are buffered against further currency depreciation and do not face immediate downgrade risk from currency depreciation.

The rating agency said that China will maintain its headline gross domestic product growth.

S&P's stable outlook on banks is underpinned by the expectations of a very high likelihood of government support.

In a report titled 'India's Banks Are Bracing For Weak Fiscal 2018 Results', S&P on Thursday said it believes that at a system level the ratio of stressed assets is realistically around 13-15 percent, compared with 12.3 percent in the first half of fiscal 2018. 

China`s finance ministry said the downgrade was "a wrong decision" that ignored the economic fundamentals and development potential of the world`s second-largest economy.

"The healthy profitability at India-based Tata Steel Ltd (BB-/stable) is in line with our expectations and supports the company's credit quality," S&P Global Ratings said in a statement.

S&P Global Ratings on Wednesday cut Qatar`s credit rating by one notch to AA- and put it on watch for further downgrades after Gulf Arab states severed ties.

Bharti Airtel will see another 2 -5 percent fall in revenue this fiscal before returning to growth in the following year, as stiff market competition keeps pricing under pressure, S&P Global Ratings said on Friday.

Rating agencies have accorded investment grade to the proposed USD 500 million bond raising programme of the country's largest lender SBI.

Like S&P, Fitch Ratings also rates India at 'BBB-minus', the lowest investment-grade, with a 'stable' outlook. Moody's Investors Service rates India at an equivalent 'Baa3', but with a "positive" outlook.

The government on Wednesday slammed global rating agencies for not upgrading India's sovereign rating despite a slew of reforms, saying they need to do some "introspection" as investors globally feel the country is "under-rated".

Dashing the government's hope of improved credit rating, S&P on Wednesday retained India's rating at 'BBB-' with a stable outlook and ruled out any upgrade in two years, citing weak public finances.

S&P Global Ratings today said its rating on Reliance Industries is unaffected as the company's energy projects will soon start generating cash flows and offset the impact of outgo because of large spectrum purchase.

Calling GST as the most important structural reform till date by the Modi government, S&P Global Ratings Tuesday said the passage of the indirect tax law gives it additional conviction of India clocking 8 percent growth in the next few years.

The country's poor infrastructure is the "biggest hurdle" to government's flagship Make in India programme, S&P Global Ratings said on Tuesday.

International rating agency S&P Global Ratings on Tuesday said that Indian state-run banks will need Rs 2.5 lakh crore capital infusion over the next three years to meet Basel-III requirements.

India's top 200 companies are set to outperform their Chinese peers despite the country's infrastructure bottlenecks, according to a report by S&P Global Ratings.